On 16 January 2016 Iran ended years of economic isolation when the six world powers lifted all sanctions against the country in return for Tehran complying with a deal to curb its nuclear ambitions.
The announcement was made at a joing declaration by the High Representative of the European Union for Foreign Affairs and Security Policy Federica Mogherini and the Iranian Foreign Minister Mohammed Javad Zarif following a confirmation by the International Atomic Energy Agency that Iran has complied with all the proovisions required under the July 2015 Agreement.
The US Treasury as already announced that it allows all non-US citizens to engage in dealings with Iran in many sectors, including the oil market sector. On the same note, in London, the British Secretary of State for Foreign and Commonwealth Affairs, Philip Hammond expressed hope that the business community of the country will seize opportunitie due to lifting of the sanctions.
The Iranian President Hassan Rouhani congratulated his people for the success of the negotiations and described it as a 'golden page' in Iran's history and looking forward to an economic future less dependent on oil as the country emerges from years of sanctions and isolations.
"The nuclear negotiations which succeeded by the guidance of the Supreme Leader and support of our nation, were trully a golden page in Iran's history" he commented.
"The nuclear deal is an opportunity that we should use to develop the country, improve the welfare of tha nation and create stability and security in the region", the Iranian President said.
Together with the lifting of the sanctions tends of billions of dollars' worth of Iranian assets wil noe be unfrozen and global markets that have been banned from doing business there will be able to exploit an emerging new market.